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57
iv. Transactions eliminated on consolidation
Intra-group balances and transactions, and any unrealised income and expenses arising from intra-group transac-
tions are eliminated. Unrealised gains arising from transactions with an associate are eliminated to the extent of
the Group’s interest in the associate. Unrealised losses are eliminated in the same way as unrealisd gains, but only
to the extent that there is no evidence of impairment. Where practical, accounting policies of the associates have
been changed to ensure consistency with the policies adopted by the Group.
Other accounting policies
Significant and other accounting policies relevant to gaining an understanding of the financial statements have
been grouped with the relevant notes to the financial statements.
Key judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires
management to exercise its judgement in the process of applying the Group’s accounting policies. The areas
involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant
to the financial statements are disclosed within the following notes:
Note
reference Key judgements and estimates
Page
Note 6
Business combination – acquisition fair value
72
Note 9
Classification of joint arrangements as a joint operation
74
Note 10
Recoverable value of investments in Associates
78
Note 11
Impairment of financial assets
81
Note 17
Recoverable value and impairment
90
Note 18
Petroleum resource rent tax (PRRT)
92
Note 19
Deferred tax assets
94
Note 25
Impairment of non-current assets
4
Estimation of reserves and resources – Coal
4
New Acland Coal Stage 3 approvals
4
Oil producing assets
107
Note 25
Determination of recoverable value - Copper assets
108
Note 26
Exploration and evaluation expenditure
109
Note 27
Impairment of goodwill
112
Note 28
Recoverability of receivables
114
Note 31
Mining restoration and site rehabilitation
116